On December 18, 2017, Organigram Holdings Inc., a leading licensed producer of medical marijuana based in New Brunswick, closed a short form prospectus offering, on a bought deal basis, including the full exercise of the over-allotment option. A total of 16,428,572 units of Organigram were sold at a price of $3.50 per unit, for aggregate gross proceeds of $57.5 million. Each unit consisted of one common share of Organigram and one-half of one common share purchase warrant.
The offering was completed by a syndicate of underwriters led by Eight Capital, and including Canaccord Genuity Corp., GMP Securities L.P., Mackie Research Capital Corporation and PI Financial Corp.
Cassels acted for the underwriters with a deal team that included Nancy Choi, Kyle Simpson and Michael Weizel (Securities and Cannabis) and Chris Norton (Tax).